Walking into Morgane Le Fay is like entering an altered reality. Gauzy creations hang on rods suspended from clear filament like beautiful, floating art. In her ready-to-wear fashions, designer/owner Liliana Casabel seeks to combine architectural simplicity and mysticism, and she most certainly achieves it. The fabrics are elegant--mostly silk, georgette, and silk chiffon, as well as cashmere and linen when the season allows. Stars flock to the store for airy, beautifully draped gowns when awards season hits. Well-heeled brides and their mothers are also common clientele.